China’s Bitcoin mining hash rate continues to decline but still dominates the world

Source: Caijing.com Chain Finance, author: Chen Yi

According to Caijing.com Chain Finance, on May 6 local time, the Cambridge University Center for Alternative Finance Research (CCAF) released a Bitcoin mining map, which shows the current hash rate distribution of Bitcoin mining around the world.

The main data for this Bitcoin mining map comes from ViaBTC, Poolin and BTC.com.

The map shows that the vast majority of hash rates are currently located in China. In the past eight months, the hash rate in China has remained above 65%, far higher than the United States and Russia, which have long ranked second and third.

Charting: Chain Finance

Taking the latest data from April 2020 as an example, China accounted for 65.08%, almost nine times that of the United States. The United States ranked second with 7.24%, followed by Russia with 6.90%, Kazakhstan with 6.17%, Malaysia with 4.33% and Iran with 3.82%.

However, it is worth noting that in the past 8 months, although the hash rate in China has occupied an absolute dominant position, it is generally on a downward trend. By April 2020, the hash rate in China had dropped by 10.54% compared with August 2019.

Charting: Chain Finance

In China, the main hash rates are distributed in Sichuan, Xinjiang, Inner Mongolia, Yunnan, Gansu and Beijing.

Before November, Sichuan was in its flood season and hydropower was discounted, so the hash rate in Sichuan accounted for the highest proportion.

It is reported that at the end of April this year, the People's Government of Ya'an City, Sichuan Province officially issued the "Implementation Opinions on the Construction of a Hydropower Consumption Demonstration Zone to Support the Development of the Blockchain Industry" (hereinafter referred to as the "Opinions"). The "Opinions" pointed out: We must give full play to the advantages of our city's hydropower resources, seize major strategic opportunities for the development of the blockchain industry, promote the healthy and orderly development of blockchain technology and industry, promote the high-quality consumption of hydropower resources, and cultivate new growth points for our city's economic development.

Charting: Chain Finance

After the flood season, the mines moved to Xinjiang and Inner Mongolia, which are rich in thermal power resources. According to Chain Finance, many well-known mining pools such as Ant Pool have set up mining pool businesses in Xinjiang.

At the end of 2018, AntPool, a subsidiary of Bitmain, urgently deployed 90,000 S9 mining machines in Xinjiang.

Link to this article: https://www.8btc.com/media/592844
Please indicate the source of the article when reprinting